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coming up house speaker john boehner getting ready to address the fiscal cliff yet again. and yesterday as you might recall when he spoke the markets did move. stay tuned. ahead on halftime, from a luxury retailer to a dollar store we're trading the biggest movers midday and gaming the fiscal cliff. which companies are doelg out new dividends now? which are next? we'll be right back. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. which isn't rocket science. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connect
coming up house speaker john boehner getting ready to address the fiscal cliff yet again. and yesterday as you might recall when he spoke the markets did move. stay tuned. ahead on halftime, from a luxury retailer to a dollar store we're trading the biggest movers midday and gaming the fiscal cliff. which companies are doelg out new dividends now? which are next? we'll be right back. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great...
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Dec 7, 2012
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house speaker john boehner today saying no progress has been made on resolving the looming fiscal cliff. more morial, former mayor of new orleans. we'll talk about the giants and the saints at the end of the segment. you must be encouraged by the unemployment rate coming down and the growth in jobs despite several headwind in the economy. >> it's better news. it's 33 months of continued job growth but make no mistake about it, the economy is still in suspended animation. still not growing fast enough to make up for all the ground we lost. but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we need wages that grow as fast as inflation or faster than inflation.
house speaker john boehner today saying no progress has been made on resolving the looming fiscal cliff. more morial, former mayor of new orleans. we'll talk about the giants and the saints at the end of the segment. you must be encouraged by the unemployment rate coming down and the growth in jobs despite several headwind in the economy. >> it's better news. it's 33 months of continued job growth but make no mistake about it, the economy is still in suspended animation. still not growing...
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Dec 7, 2012
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john boehner today saying there is no progress on the fiscal cliff and that is slamming cnbc's own deal-o-meter. we are in the red, folks. eamon javers, when boehner comes out and says it is not a fr progress report because we have no progress, that's not a good thing. >> no news is bad news in the case of washington. we're watching this fiscal cliff thing so carefully. let me play the sound bite so you can see the dour expression on speaker boehner's face as he talked to reporters early this afternoon. >> this isn't a progress because there is no progress to report. when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some indication they'll continue to talk through the wee
john boehner today saying there is no progress on the fiscal cliff and that is slamming cnbc's own deal-o-meter. we are in the red, folks. eamon javers, when boehner comes out and says it is not a fr progress report because we have no progress, that's not a good thing. >> no news is bad news in the case of washington. we're watching this fiscal cliff thing so carefully. let me play the sound bite so you can see the dour expression on speaker boehner's face as he talked to reporters early...
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Dec 6, 2012
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as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple dozen republican house members signed a bipartisan letter that says let's look at all kinds of tax rates, not just the deduction, but tax rates in relation to other spending. so you've got republicans jumping ship on both sides. >> that's exactly right. the speaker is going to have to make a critical choice, because the lines are being drawn in the sand right now here on capitol hill. you have the conservatives who are being booted off the committee. they're very angry with the speaker. they're not going to move at all on tax rates. but you've got a lot of moderates in the republican conference from th
as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple...
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. >>> house speaker john boehner says fiscal cliff talks remain stuck in neutral. >> the president insist on his position. insist on my way or the highway. >> well, going over that highway and the fiscal cliff would kill thousands of jobs, especially in the defense sector and the head of a defense contractor who will feel that pain joins us next along with former vermont governor howard dean who argues maybe going over the fiscal cliff will be the best thing for the nation. >>> later, we have the former chairman of the council of economic advisers under president bush. he's going to join us as well as laura tyson, the former head of the cea under president clinton. we're going to get their take on the cliff and today's jobs number. >>> also, tough week for apple shares. is now the time to load up? stick around for the apple trade in the back half of this hour. stay tuned. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] a
. >>> house speaker john boehner says fiscal cliff talks remain stuck in neutral. >> the president insist on his position. insist on my way or the highway. >> well, going over that highway and the fiscal cliff would kill thousands of jobs, especially in the defense sector and the head of a defense contractor who will feel that pain joins us next along with former vermont governor howard dean who argues maybe going over the fiscal cliff will be the best thing for the nation....
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Dec 6, 2012
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. >>> and finally tonight, my observation on the ongoing talks in washington over the fiscal cliff. reporting in the last half an hour that speaker boehner and the white house are finally resuming negotiations. albeit at staff levels, but it's a start. and i have a suspicion we might see more progress soon. you see, finally lawmakers are motivated. unfortunately, i don't think the motivation is to put america on a sustainable fiscal path. i think what's driving them is their scheduled vacations. yes. i really do. now, i know they'd never admit it, but look at the facts. everybody is planning to get out of d.c. for good two weeks from tomorrow, december 21st. including the president who already has an extended hawaii trip planned beginning december 17th. you'd think the fact that every working american's taxes will go up on january 1 without a deal would get them talking or that defense analysts telling us over and over if we go over the cliff, 40,000 jobs will be cut immediately in that sector and that's just lighting the fire for other cuts or widespread beliefs that we will have a
. >>> and finally tonight, my observation on the ongoing talks in washington over the fiscal cliff. reporting in the last half an hour that speaker boehner and the white house are finally resuming negotiations. albeit at staff levels, but it's a start. and i have a suspicion we might see more progress soon. you see, finally lawmakers are motivated. unfortunately, i don't think the motivation is to put america on a sustainable fiscal path. i think what's driving them is their scheduled...
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Dec 5, 2012
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the market is telling us that the fiscal cliff is not going to happen. the only risk is if it doesn't happen. boehner stepped in front of the microphone the day after the election and this market tanked. that's a clear signal to washington they better get it right. >> i think ben is right on the money. this is basically what is happening. there's an enormous amount of room for disappointment in this market. this market is expecting a deal. i don't know why all of the sudden today we get this triple-digit move as if something is happening. if we don't get a deal, how big of a sell-off can we see? >> well, we've seen the t.a.r.p. disappointment. we've seen the debt ceiling disappointment. i think if we go over the cliff, we're going to have a very big sell-off, then the politicians are going to go, hey, we're here to the rescue. >> what's fueling this optimism then? >> i think we have seen the idea that the market has voted to tell washington they need to get it right with the sell-offs we have seen. the anticipation is they want to get re-elected. they un
the market is telling us that the fiscal cliff is not going to happen. the only risk is if it doesn't happen. boehner stepped in front of the microphone the day after the election and this market tanked. that's a clear signal to washington they better get it right. >> i think ben is right on the money. this is basically what is happening. there's an enormous amount of room for disappointment in this market. this market is expecting a deal. i don't know why all of the sudden today we get...
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. >>> john boehner said this morning it was a week that was wasted in the fiscal cliff discussions, but the market sure isn't trading that way. how come? >> good question. with us today is david darst. what do you reckon, david? how come? >> i think you got the four cs. you got consumer confidence. you've got the china situation looking a little better. you've got consumer credit looking better, mandy. finally, take liberty with that fourth c, house prices. they're hanging in there. that's been one thing. on the other hand, you have a deceleration going on this quarter, mandy. our best guess is it's going to come in at about 0.8%. first quarter, 0.9%. >> what are you talking about, gdp? >> on gdp. the second quarter, 1.2%. you're seeing a deceleration here. this is basically e quill librium. it's not just the fiscal cliff, mandy, that's causing the market to do this seesaw action. >> we highlighted yesterday how the german and french markets hit 52-week highs yesterday. we're not close to that. we hit our highs in september and haven't looked back. are we being held back by the fiscal c
. >>> john boehner said this morning it was a week that was wasted in the fiscal cliff discussions, but the market sure isn't trading that way. how come? >> good question. with us today is david darst. what do you reckon, david? how come? >> i think you got the four cs. you got consumer confidence. you've got the china situation looking a little better. you've got consumer credit looking better, mandy. finally, take liberty with that fourth c, house prices. they're hanging...
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let's start with the fiscal cliff issue. when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing their businesses as s-corporations or pass-through corporations can incorporate and get that lower rate. they can negotiate on the individual rates. >> so you don't think the ordinary income, then, the 39.6% that we're talking about, in that case, would apply to small business. they would fall under the corporate tax rate. >> yes, exactly. people forget that until 1986, corporate and individual rates were separate. a big part of the '86 act was to equalize them. there's
let's start with the fiscal cliff issue. when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25%...
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. >> how does the fiscal cliff get resolved? how much patient does the market you have, do you think to deal with the daily sound bites out of the d.c. moving.markets and ? >> lawrencegmcdonald.com. comments are very interesting around boehner taking those actions around tea party members in the house. that's substantial. i think at the end of the day it will all come down to means testing. means testing on dividends, means testing on medicare, means testing on social security. that's the way they come to agreement. if you add up all the means testing moves on social security an medicare, that gets but $800 million right there. >> what's the cliff doing to gold? gold's been obviously an interesting trade over the last several sessions. it's been down $30 or so a couple different times. cliff related or something else going on? >> i think it's definitely more economically related. if you look over the last year, take morgan stanley five-year cds versus gold. every time we've had a rise in systemic risk, gold has fallen. over the
. >> how does the fiscal cliff get resolved? how much patient does the market you have, do you think to deal with the daily sound bites out of the d.c. moving.markets and ? >> lawrencegmcdonald.com. comments are very interesting around boehner taking those actions around tea party members in the house. that's substantial. i think at the end of the day it will all come down to means testing. means testing on dividends, means testing on medicare, means testing on social security....
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that could be also, by the way, a fiscal cliff effect. zplint vi >> interviewing secretary geithner later today. what's your first question going to be? >> i want to get his response -- we had the president respond to boehner's proposal but i want to get the secretary's response, too, the specific issue of, hey, the republicans looked like they made a step forward, actually got some accolades in some of the press for agreeing to new revenues. where's the administration's response on that side? are they willing to give? i think that's a key question right now in terms of what the news flow is right now but also there's critical questions about the dollars on both sides of the equation, tyler. >> steve leisman, thank you very much. >>> jim iuorio, i want to ask you the same question i just asked steve. if you were talking to secretary geithner at 4:00 p.m. today as steve will be, what would your first question to him be? >> my questions would be about dividends and capital gains as they're market related. with the dividends we've seen a tre
that could be also, by the way, a fiscal cliff effect. zplint vi >> interviewing secretary geithner later today. what's your first question going to be? >> i want to get his response -- we had the president respond to boehner's proposal but i want to get the secretary's response, too, the specific issue of, hey, the republicans looked like they made a step forward, actually got some accolades in some of the press for agreeing to new revenues. where's the administration's response on...
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earlier the president told the business round table a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. in an interview on cnbc, timothy geithner says the gop is making a little bit of progress, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> i want to understand the administration's position when it comes to raising taxes on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> with both sides in washington publicly digging in their heels, how much will the fiscal cliff impact the credit markets? ben garber joins us for more. ben, good morning. clearly we're focused on the down side risk from the budget standoff and then there's beyond that. let's talk about the short term at the moment. what impact is tha
earlier the president told the business round table a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. in an interview on cnbc, timothy geithner says the gop is making a little bit of progress, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> i want to understand the administration's position when it comes to raising taxes on the wealthy, those making more...
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. >> house speaker john boehner is to speak on the fiscal cliff negotiations in just a few minutes. we'll bring you those comments live as soon as he starts speaking. plus, former ohio governor ted strickland will join us. he says republicans are not acting in the best interest of the country when it comes to the fiscal cliff and explain exactly why he's saying that on cnbc. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for
. >> house speaker john boehner is to speak on the fiscal cliff negotiations in just a few minutes. we'll bring you those comments live as soon as he starts speaking. plus, former ohio governor ted strickland will join us. he says republicans are not acting in the best interest of the country when it comes to the fiscal cliff and explain exactly why he's saying that on cnbc. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you...
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Nov 30, 2012
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. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican aides who have talked to "the wall street journal," they obtained a copy of the white house prover here in the negotiations. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> eamon javers joins us live from washington. they seem farther apart than ever before. the dow is above 13,000 for the first time in several weeks. do you think the markets are reading comments correctly? >> i do think markets have gotten it wrong a lot this week. they have been reacting strongly to things that are boilerplate information and basic statements from congress that we hear all the time and mar
. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican...
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fiscal cliff. today the president h showcasing -- steve liesman asked the treasury sec temporary about the possibility of going over the cliff. >> i want to understand the administration's position when it comes to raising taxing on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there's no pros teblpect to the agreement that doesn't involve taxes going up on the wealthiest 2%. remember it's only 2%. >> i talk every day to our customers around this country, around the world sometimes for that matter too, but around the country, and they are all scared to death what happens in january, nobody knows, but all i know is going over the cliff is too hot to handle, it's an option we just can't stare in the face and there's no way we can do it. they will get us through this in one form or fashion. >> interesting call. conventional wisdom, obviously the white house and the secretary hardening their
fiscal cliff. today the president h showcasing -- steve liesman asked the treasury sec temporary about the possibility of going over the cliff. >> i want to understand the administration's position when it comes to raising taxing on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there's no pros teblpect to the agreement that doesn't involve taxes going up on the wealthiest...
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. >>> there's no deal to resolve the fiscal cliff but there are indications of inside-the-scenes talk. the white house told reporters that lines of communication remain open not sure exactly what that means but a spokesman for house speaker john boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this morning, the same area as the devastating march 2011 quake. but there was a tsunami warning canceled and reports of injuries or damage even though the quake shook buildings. workers at the fukushima nuclear plant were ordered to higher ground as a precaution. >>> our guest host is dan gilbert, he's chairman and founder of quicken loans and the owners of the nba's cleveland cavaliers and among the topics we're ready to talk about dan, the risk of the looming fiscal cliff and the broader economy. we'll start with this morning's other top stories. dan, welcome, great to have you here. >> great to be here. >> we want to fin
. >>> there's no deal to resolve the fiscal cliff but there are indications of inside-the-scenes talk. the white house told reporters that lines of communication remain open not sure exactly what that means but a spokesman for house speaker john boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this...
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tomorrow the big jobs report and then there was the issue of the fiscal cliff. 11,000 in citigroup. i wonder if we start seeing things before next year. people are not hiring people. >> and we've talked a lot about this, ceos have already had to make their plans known to their boards. so it's had its impact. >> getner says the obama administration is only too willing to go over the qulif. cliff. do they mean marginal rates, or just rates. >> that's what's going to be worked out, the last minute deal that's where you find wiggle room. >> i guarantee you there's guys in boehner's camp that are ready to go over, too. >> but he's been moving to marginalize those peel. this is his way of taking control of the party. >> the question is why do they care where the money comes from. if you have a revenue target, then fine. but we need $800 million in revenue. john wehner figured it out. and boehner can turn around and say i need $6 trillion in titlement cuts. and they can each take each other's playbook and try and figure out what they would like best to -- figure out the number and figure o
tomorrow the big jobs report and then there was the issue of the fiscal cliff. 11,000 in citigroup. i wonder if we start seeing things before next year. people are not hiring people. >> and we've talked a lot about this, ceos have already had to make their plans known to their boards. so it's had its impact. >> getner says the obama administration is only too willing to go over the qulif. cliff. do they mean marginal rates, or just rates. >> that's what's going to be worked...